Women Financial Inclusion DSS and development of NFIS II 

	Country:	Zimbabwe
	Member institution:	Reserve Bank of Zimbabwe
	Timeline:	October 2021 – September 2022
	Thematic area:	Financial inclusion strategy, gender inclusive finance

Context 

The Reserve Bank of Zimbabwe was encountering challenges in formulating an effective financial inclusion strategy without access to evidence-based data. A priority for RBZ is to collect timely, accurate, and valid data on the demographic characteristics of financial services users in order to identify segments of the population with the greatest barriers to financial inclusion, such as women, rural populations, and the poor. RBZ noted a lack of reliable demand-side information on barriers to access and usage, as well as an understanding of the needs of target groups. This created the risk that financial inclusion strategies developed without evidence-based data could produce misguided results, which in turn might misguide further policies.  

Project Activities 

• Delivered an overall understanding of gaps in financial inclusion, including gender gaps in terms of access, usage, quality and sustainability of financial services.   

• Establishment of a robust monitoring and evaluation framework. This framework was operationalized internally by the RBZ and externally by financial service providers and other key stakeholders in the financial system.  

• Policy recommendations were formulated to address the imperative of narrowing the gender gap and fostering increased participation of women in the economic sector. 

Outcome 

The project played a critical role in equipping the RBZ with evidence-based data and insights necessary for the development of its National Financial Inclusion Strategy (NFIS). The implementation of a monitoring and evaluation framework ensured the successful execution of the strategy, while the inclusion of gender-focused policy recommendations underscored the RBZ’s commitment to fostering an inclusive and gender-responsive financial ecosystem in Zimbabwe. By conducting regular monitoring and evaluation, the RBZ and its partners can effectively track the progress of NFIS identify areas requiring improvement, and make informed policy decisions to enhance financial inclusion.